Minister of Works, David Umahi, says the Lagos-Calabar coastal highway project will cost 4bn per kilometre to construct.
The minister was reacting to claims made by the presidential candidate of the Peoples Democratic Party in the 2023 election, Atiku Abubakar, that the project was budgeted at N8bn per kilometre.
Speaking on a news programme, the minister also debunked claims that the project, which at 700 kilometres will cost N2.8 trillion, did not follow the due procurement process.
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He added that the project, which was awarded on a counter-funding basis and not on a Public-Private Partnership basis as claimed, will be completed within 8 years.
At a press conference in Lagos yesterday, the minister also said that the $200 million Landmark Beach Resort will not be affected by the construction of the Lagos-Calabar Coastal Road.
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